Thrivent Financial for Lutherans Sells 8,380 Shares of TEGNA Inc. (NYSE:TGNA)

Thrivent Financial for Lutherans lowered its stake in TEGNA Inc. (NYSE:TGNA) by 17.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,980 shares of the company’s stock after selling 8,380 shares during the period. Thrivent Financial for Lutherans’ holdings in TEGNA were worth $571,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CWM LLC boosted its holdings in shares of TEGNA by 389.0% during the first quarter. CWM LLC now owns 1,873 shares of the company’s stock worth $28,000 after purchasing an additional 1,490 shares during the period. Fidelis Capital Partners LLC purchased a new stake in TEGNA in the 1st quarter worth approximately $28,000. Headlands Technologies LLC bought a new stake in shares of TEGNA in the 1st quarter worth approximately $46,000. Blue Trust Inc. increased its stake in shares of TEGNA by 247.8% during the second quarter. Blue Trust Inc. now owns 4,702 shares of the company’s stock valued at $70,000 after buying an additional 3,350 shares during the period. Finally, Innealta Capital LLC purchased a new stake in shares of TEGNA in the 2nd quarter worth about $116,000. Institutional investors own 92.19% of the company’s stock.

Insider Activity

In related news, COO Lynn B. Trelstad sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $13.88, for a total value of $347,000.00. Following the sale, the chief operating officer now owns 179,617 shares in the company, valued at approximately $2,493,083.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.88% of the stock is owned by corporate insiders.

TEGNA Stock Performance

TGNA stock opened at $15.25 on Wednesday. The stock’s 50 day simple moving average is $14.46 and its 200 day simple moving average is $14.39. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 1.10. TEGNA Inc. has a 12-month low of $12.35 and a 12-month high of $16.56. The stock has a market capitalization of $2.59 billion, a PE ratio of 5.33 and a beta of 0.50.

TEGNA (NYSE:TGNA) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. TEGNA had a return on equity of 11.57% and a net margin of 15.51%. The firm had revenue of $710.36 million for the quarter, compared to the consensus estimate of $715.40 million. During the same period in the prior year, the company posted $0.44 earnings per share. The company’s quarterly revenue was down 2.9% on a year-over-year basis. As a group, research analysts forecast that TEGNA Inc. will post 3.07 earnings per share for the current fiscal year.

TEGNA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were paid a $0.125 dividend. The ex-dividend date was Friday, September 6th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.28%. TEGNA’s dividend payout ratio is presently 17.48%.

Wall Street Analysts Forecast Growth

Separately, Benchmark reiterated a “buy” rating and set a $21.00 price target on shares of TEGNA in a research report on Thursday, August 8th.

TEGNA Company Profile

TEGNA Inc, a media company, provides broadcast advertising and marketing products and services for businesses. The company operates 47 television stations in 39 markets of the United States that produce local programming, such as news, sports, and entertainment. It offers local and national non-political advertising; political advertising; production of programming from third parties; production of advertising materials; and digital marketing services, as well as advertising services on the stations' Websites, tablets, and mobile products.